Vanguard Group Inc. Sells 47,978 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Vanguard Group Inc. cut its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,564,657 shares of the financial services provider's stock after selling 47,978 shares during the period. Vanguard Group Inc. owned 11.94% of S&T Bancorp worth $123,611,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors grew its stake in S&T Bancorp by 4.7% in the 3rd quarter. Captrust Financial Advisors now owns 8,592 shares of the financial services provider's stock valued at $252,000 after buying an additional 382 shares during the last quarter. Pathstone Family Office LLC grew its stake in S&T Bancorp by 5.4% in the 3rd quarter. Pathstone Family Office LLC now owns 7,699 shares of the financial services provider's stock valued at $226,000 after buying an additional 393 shares during the last quarter. Eaton Vance Management boosted its holdings in S&T Bancorp by 5.9% in the 1st quarter. Eaton Vance Management now owns 7,784 shares of the financial services provider's stock valued at $230,000 after purchasing an additional 435 shares during the period. First Trust Advisors LP boosted its holdings in S&T Bancorp by 2.7% in the 1st quarter. First Trust Advisors LP now owns 18,933 shares of the financial services provider's stock valued at $560,000 after purchasing an additional 494 shares during the period. Finally, FMR LLC boosted its holdings in S&T Bancorp by 2.8% in the 1st quarter. FMR LLC now owns 18,499 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 508 shares during the period. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of S&T Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday.

S&T Bancorp Price Performance

Shares of S&T Bancorp stock traded down $0.36 on Wednesday, reaching $31.02. 129,807 shares of the stock were exchanged, compared to its average volume of 182,503. The firm's 50 day moving average is $31.69 and its 200-day moving average is $30.17. S&T Bancorp, Inc. has a one year low of $24.51 and a one year high of $36.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $1.19 billion, a PE ratio of 8.29 and a beta of 0.77.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.10. S&T Bancorp had a net margin of 27.03% and a return on equity of 11.70%. The company had revenue of $103.17 million during the quarter, compared to the consensus estimate of $100.10 million. As a group, analysts anticipate that S&T Bancorp, Inc. will post 3.01 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Wednesday, February 7th. S&T Bancorp's dividend payout ratio (DPR) is presently 35.29%.

S&T Bancorp Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.